Bamboo Airways to file for IPO in Vietnam and New York next year

November 23, 2021 | 17:16
Bamboo Airways, a subsidiary of FLC Group, has announced plans to list on Vietnam's Unlisted Public Company Market (UPCoM) and the New York Stock Exchange in 2022.
Bamboo Airways to file for IPO in Vietnam and New York next year
Bamboo Ariways is planning to go public in Vietnam and the US alike

Deputy general director of Bamboo Airways Nguyen Khac Hai stated that the airline is working on a plan to list on the UpCOM.

Hai stated, "The expected time is in the first quarter of 2022 and the estimated reference price is not less than VND60,000 ($2.60).”

Accordingly, FLC Group’s Bamboo Airways is also scrambling to prepare and finalise the application for an initial public offering on the New York Stock Exchange (NYSE) in 2022.

The airline has targeted to generate $200 million by the issue of 5-7 per cent shares on the NYSE, bringing its market value to $4 billion.

Bamboo Airways continues to increase its charter capital from VND16 trillion ($695.65 million) to VND18.5 trillion ($804.35 million), according to the most recent updated company registration information.

This is Bamboo Airways' fourth capital adjustment since the beginning of the year.

Trinh Van Quyet, chairman of FLC Group, FLC Group, FLC Holding Capital, and FLC Faros are among Bamboo Airways’ major shareholders.

By Tri Lam

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional